◈ Oracle PrepSign Up Free
A-LevelAccountingThe accounting cycle9706/12 · Feb/Mar 2023 · Q31 Mark

What is the advantage of keeping a full set of double entry books of account?

AAccount balances are available through the year.
BBusiness assets and owner's assets can be kept separate.
CIt enables the book-keeper to check the bank statement for errors and omissions.
DIt stops the value of assets being overstated.

✓ Correct answer

A: Account balances are available through the year.

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The accounting cycle and see which topics are most likely to come up next.

Sign up free →

About this question

Topic
The accounting cycle, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source
A-Level Accounting, Feb/Mar 2023 Paper 1 Variant 2, question 3.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

The accounting cycleFeb/Mar 20201m

A trader sells goods for $6600 to a customer on 31 March 2019, the last day of his financial year. He does not produc…

The accounting cycleFeb/Mar 20211m

A business values its inventory at the lower of cost and net realisable value. Which accounting concept is being appl…

The accounting cycleFeb/Mar 20211m

On 1 May, Tom sold an old motor vehicle with a net book value of $10000 to Arnold for $12000. Arnold paid $7500 by ch…

Traditional costing methodsFeb/Mar 20201m

A company is forecasting its profits at two levels of activity. sales units: 5000 units, 8000 units total fixed and v…

Budgeting and budgetary controlFeb/Mar 20201m

Why would a business prepare budgets? 1 to communicate its plans 2 to enable it to control costs 3 to improve its pro…

Accounting for non-current assetsFeb/Mar 20211m

Which item is not included as part of the capital cost of a new machine?

← Browse all past-paper questions

© 2026 Oracle Prep